CoStar Group (CSGP) Receives Average Rating of “Buy” from Analysts

CoStar Group (NASDAQ:CSGP) has been assigned an average recommendation of “Buy” from the eleven ratings firms that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, eight have given a buy rating and one has assigned a strong buy rating to the company. The average 12 month target price among brokers that have updated their coverage on the stock in the last year is $380.10.

Several equities analysts have recently issued reports on CSGP shares. JPMorgan Chase downgraded shares of CoStar Group from an “overweight” rating to an “underweight” rating and set a $325.00 price target for the company. in a report on Tuesday, December 12th. BidaskClub cut shares of CoStar Group from a “hold” rating to a “sell” rating in a research note on Thursday, December 14th. Needham & Company LLC lifted their price objective on shares of CoStar Group to $350.00 and gave the company a “buy” rating in a research note on Tuesday, December 19th. Wells Fargo set a $400.00 price objective on shares of CoStar Group and gave the company a “buy” rating in a research note on Thursday, January 18th. Finally, Citigroup reiterated a “buy” rating and issued a $425.00 price target (up from $320.00) on shares of CoStar Group in a research report on Tuesday, January 23rd.

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In other CoStar Group news, VP Francis Carchedi sold 12,100 shares of the business’s stock in a transaction dated Wednesday, March 7th. The shares were sold at an average price of $356.09, for a total value of $4,308,689.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Matthew Linnington sold 7,921 shares of the business’s stock in a transaction dated Friday, March 2nd. The stock was sold at an average price of $348.23, for a total transaction of $2,758,329.83. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,421 shares of company stock worth $9,009,433. 3.09% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Lenox Wealth Advisors Inc. acquired a new stake in CoStar Group during the 4th quarter worth about $102,000. Cerebellum GP LLC purchased a new position in CoStar Group during the 4th quarter valued at about $129,000. Corient Capital Partners LLC purchased a new position in CoStar Group during the 4th quarter valued at about $204,000. Hengehold Capital Management LLC purchased a new position in CoStar Group during the 4th quarter valued at about $206,000. Finally, IFM Investors Pty Ltd purchased a new position in CoStar Group during the 4th quarter valued at about $219,000. Hedge funds and other institutional investors own 98.16% of the company’s stock.

Shares of CSGP stock traded up $7.55 during mid-day trading on Wednesday, reaching $358.83. 61,503 shares of the company were exchanged, compared to its average volume of 226,742. CoStar Group has a fifty-two week low of $201.43 and a fifty-two week high of $378.57. The company has a market capitalization of $12,679.35, a P/E ratio of 89.38, a PEG ratio of 3.35 and a beta of 1.52.

CoStar Group (NASDAQ:CSGP) last released its quarterly earnings results on Wednesday, February 21st. The technology company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.24 by $0.01. CoStar Group had a net margin of 12.71% and a return on equity of 6.75%. The business had revenue of $253.99 million during the quarter, compared to the consensus estimate of $253.74 million. During the same quarter last year, the company earned $1.29 earnings per share. The business’s quarterly revenue was up 16.3% compared to the same quarter last year. research analysts forecast that CoStar Group will post 6.25 EPS for the current fiscal year.

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CoStar Group Company Profile

CoStar Group, Inc provides information, analytics, and online marketplace to the commercial real estate industry in North America and internationally. The company offers CoStar Property Professional service that provides inventory of office, industrial, retail, and multifamily properties and land. It also provides CoStar COMPS Professional, which covers comparable commercial real estate sales information; CoStar Tenant, an online business-to-business prospecting and analytical tool; CoStarGo, an iPad and Android application; CoStar Lease Comps, an integrated solution that captures, manages, maintains, and analyzes lease data; CoStar Advertising to market a space for lease or a property for sale; and CoStar Portfolio Strategy to meet the research needs of commercial real estate owners, investors, lenders, and government regulators.

Analyst Recommendations for CoStar Group (NASDAQ:CSGP)

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